Why does obama think raising the taxes on an oil company will lower the price of gas for your average guy?

Question

if the cost of creating oil will rise so will the price of it. they need no reason to justify raising the price they do it all the time. why would making it more expensive to make lower the price for you?

Answer 1

he doesn't, but he knows there is so much excess cash made from the oil spike, that oil companies are not using for reinvestment, that needs to get back into the economy and not salted away to raise the corporate value and stock price.  So better to at least partially pay for the other tax breaks they've gotten from the Bush administration giveaway tax cuts for the wealthy.

Answer 2

he doesn't, he's offering $1000 for middle class families in a tax cut, and a 2nd round of stimulus checks.

Answer 3

You have it all wrong; oil companies recorded the highest ever PROFITS which means that their cost of supplying oil to customers doesn't appear to be a hindrance to their earnings.  Increasing their taxes will either send a message that all of us can't be gauged by the oil companies and the income from the taxes will pay some much needed programs in education and welfare - or least pay down some of the huge deficit incurred in the past 7+ years.

Answer 4

He's going to raise the taxes on "Big Oil" which, as they always do, they'll pass the costs on to us.  Then, when EVERYONE, all americans are united by the rising prices of everything, He'll present, again, alternate fuel options and we'll have to jump on solar, wind, thermo, hydrogen, and maybe even a big effing room with a turbine and a bunch of immigrants pushing it to generate electricity.  

Make 'em desperate... starve them a little... then throw them a bone.

  

Answer 5

All Obama knows or cares about is that taxing corporations and citizens does one thing and that is line the coffers of government so he can force us to pay for his socialistic welfare programs.

Answer 6

In a May 2006 letter to President George W. Bush, he joined four other midwest farming state Senators in calling for the preservation of a $0.54-per-gallon tariff on imported ethanol.[22]

He wants to tax imported gas and drill here.

Answer 7

Hes an idiot! UGH!! GOD BLESS THIS COUNTRY!  

Answer 8

Because it's all a show to pretend like he really cares about people and less about businesses and large corporations.  It's the wrong strategy anyway.  Corporations and large business is what we need to maintain the economy and the JOBS.  The more people you have employed in a country,  the better it is for the economy.  If there was to be more people on welfare and government programs, then our economy would be heavily burdened and there would be more poverty.  This country would be ruined!!

Answer 9

I can't answer for Obama, but I'll give you my opinion.  I think it's ridiculous that we give big oil a $14 billion annual tax break (we waive the fees they're supposed to pay for drilling on public lands) while they're racking up historical profits while gouging us at the pump.  I think we have to take the long-view in this.  Make them pay the fees and then reinvest in developing alternative energy fuels and infrastructure.

Answer 10

the oil companies will just have to fire a bunch people.

Answer 11

They actually want to raise the gas tax also.

Democrats are not going to lower anybody's taxes. They might lower one tax and raise 10 others. That's how they operate.

Obama also said he's going to "recuit an army of teachers". How do teachers get paid? State and local taxes. they're going up also.

Answer 12

Because a liberal thinks that raising taxes is the answer to everything. Obama said at his convention that he will give tax breaks to companies who keep their factories here. So, how does this equate to his wanting to eliminate the so-called corporate welfare? Does he want to tax corporations of give them breaks? Well, what is it? Oh, I know. He wants to have his cake and eat it too. Typical Washington Democrat. So much for change.

Answer 13

I don't think he ever said it would lower price of gas.  I believe he said he would use those taxes to fund alternative fuels.

Answer 14

Obama doesn't even know what he's doing. He is so  inexpierenced, it's sad that he even THOUGHT he could do this job. He is going to lose. Sorry dems.